Reversals in minor trends or even major trends happen near market turning points and offer good risk reward trade.
WORK is an example of such trade. It showed up intraday on Monday in my reversal scan. I entered a 5000 share position with a close stop of 30 cents. The stock bounced back and continued to rally from that point. I sold my 4000 shares to lock in profits and now carrying 1000 shares with close stop to protect open profits.
Reversal setups work well in some market conditions and adding them to your tool box gives you more opportunities for profit with miniscule risk.
In Telechart you can scan for these very easily.
https://www.tc2000.com/~jE5vqf
If you re serious about making boatload of money trading focus on well defined setups and master them.
No comments:
Post a Comment